A profit-maximizing, competitive firm will always hire an additional worker when the additional worker makes a positive contribution to
A) total revenue.
B) total profit.
C) the value of the marginal product of labor.
D) marginal revenue.
Correct Answer:
Verified
Q135: Diminishing marginal product affects the shape of
Q318: Value of marginal product is defined as
Q320: Diminishing marginal product occurs when
A)the increases to
Q321: The value of the marginal product is
A)total
Q322: When a firm hires labor up to
Q324: If the value of the marginal product
Q325: Competitive firms that maximize profits will hire
Q326: If the value of the marginal product
Q327: The value of the marginal product of
Q328: A worker's contribution to a firm's revenue
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